The last couple of days Ripple’s XRP/USD has been on the spotlight as price is surging above $1, when last week it was trading below $0.60. With XRP again as the number 4 biggest market cap crypto coin, price has broken key resistance levels. Our $1.33 target does not look that far now.
Pink line – support trend line
Red lines – Fibonacci expansion
XRP/USD is trading above $1 and is heading towards the 161.8% Fibonacci extension at $1.33. Despite still being delisted by US crypto exchanges and despite lawsuit by the SEC, XRP/USD is soaring higher breaking one resistance after the other. Last week we started with a simple triangle break out and we warned that $0.70-$0.80 had to be broken for XRP/USD to reach $1 and higher. This is big news for XRP/USD and we expect price to continue higher over the coming days.
The material has been provided by InstaForex Company – www.instaforex.com
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